The UK government has unveiled a strategy to reduce its dependence on fossil fuels and transition to green future to achieve net zero emissions by 2050.
The Net Zero Strategy outlines how the country will unlock an investment of £90bn in 2030 and secure 440,000 well-paid jobs in green industries.
The announcement comes ahead of the UN COP26 summit, which is scheduled to take place between 31 October and 12 November this year.
The strategy, which builds on the UK Prime Minister’s 10 Point Plan, outlines a comprehensive economy-wide plan to support businesses and consumers will be supported in the transition to clean energy and green technology.
As part of the Net Zero Strategy, new investments include an additional £350m support to support the electrification of UK vehicles and their supply chains and another £620m for targeted electric vehicle grants and infrastructure.
The country has already made up to £1bn commitment for the electrification of the vehicles.
Prime Minister Boris Johnson said: “The UK’s path to ending our contribution to climate change will be paved with well-paid jobs, billions in investment and thriving green industries – powering our green industrial revolution across the country.
“By moving first and taking bold action, we will build a defining competitive edge in electric vehicles, offshore wind, carbon capture technology and more, whilst supporting people and businesses along the way.
“With the major climate summit COP26 just around the corner, our strategy sets the example for other countries to build back greener too as we lead the charge towards global net zero.”
The UK also intends to kick-start the commercialisation of sustainable aviation fuel (SAF) made from sustainable materials, aiming to enable the delivery of 10% SAF by 2030.
The new strategy outlines £180m in funding to support the development of UK SAF plants.
To speed up industrial carbon capture and hydrogen, £140m funding will be provided to Industrial and Hydrogen Revenue Support scheme.
Two carbon capture clusters that include Hynet Cluster in North West England and North Wales and the East Coast Cluster in Teesside and the Humber have been chosen by the UK government to provide funding support.
The new investments also include an extra £500m for innovation projects to develop the green technologies of the future and £120m for the development of nuclear projects through the Future Nuclear Enabling Fund.
Since the announcement of Ten Point Plan in November last year, the country has mobilised £26bn of government capital investment for the green industrial revolution.
Under the Ten Point Plan, the government targets to mobilise of £12bn investment over the next decade to create and support up to 250,000 highly skilled green jobs in the country.
